Patrinely Group And USAA Real Estate Break Ground On 30-Story Office Tower In Downtown Denver
Block 162 starts construction on speculative basis
DENVER, June 26, 2018 /PRNewswire/ -- A joint venture led by Patrinely Group and USAA Real Estate today announces that construction has officially commenced on Block 162, a 595,000-square-foot office building, located at 675 15th Street between Welton and California Streets in downtown Denver.
"Given the continued strength of the Denver marketplace and the lack of available large blocks of Class A space, we recognized that now is the right time to bring a prestigious building like Block 162 to the urban Denver market," said Robert Fields, president and CEO of Patrinely Group. "We believe that this state-of-the-art building will continue the amazing transformation of downtown and provide prospective tenants a true 21st century work environment for their employees."
The 30-story Class A office building will include 20 floors of office space on Levels 11-30. The average floor plate size will be 29,500 rentable square feet. The building will include 9,900 rentable square feet of ground floor retail in three retail leased spaces. The project will offer parking at a ratio of 1.7 cars per 1,000 rentable square feet, with parking spaces located within three underground parking levels and a 10-floor above-grade podium garage. The project will be certified LEED Gold. Construction of Block 162 is slated for completion in December 2020.
The office building will feature an 11th floor amenity area open exclusively to the building's tenants, with a fitness center, social lounge and conference and meeting space. These interior amenity areas will provide direct access to the building's sky terrace also on the 11th floor, which will be a manicured outdoor roof garden and includes a dedicated exercise lawn as well as seating areas and fire pits. The fitness center features expansive operable glass walls that open onto the exercise lawn, along with an indoor area complete with yoga, cardio stations, free weights, and private showers and lockers. The indoor social lounge also features expansive operable glass walls that open to the outside roof garden offering casual seating, fire pits and views of the Front Range, and is connected to 2,800 square feet of conference and meeting space.
Patrinely Group is the developer of Block 162. The architect is Gensler. The contractor is Swinerton. Cushman & Wakefield is the landlord's broker, represented by Doug Wulf and Todd Wheeler, under the direction of Dennis Tarro of Patrinely Group.
"We are incredibly excited to have been chosen to lead the leasing efforts of what is sure to be the preeminent new office building in the Denver marketplace," said Doug Wulf, executive managing director of Cushman & Wakefield. "In terms of design, floorplate size, amenities and location, Block 162 is the new gold standard in Denver."
About Patrinely Group, LLC
Patrinely Group is a national real estate development firm specializing in investment, development and management of commercial office and residential projects. The company is focused on large, Class A properties including commercial office, mixed use, and hospitality venues; and urban, Class A multifamily property in high growth markets. Since 1983, Patrinely Group has developed some of the most successful properties in the nation and has $10 billion in development completed or underway. With Patrinely Group's national experience, the company is a recognized leader in real estate development. For more information, visit www.patrinelygroup.com.
About USAA Real Estate
USAA Real Estate, with over $20 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
SOURCE Patrinely Group
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